Intercontinental Hotels Group (NYSE:IHG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Intercontinental Hotels Group (NYSE:IHG) have earned an average rating of “Hold” from the seven research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company.

A number of research firms have issued reports on IHG. JPMorgan Chase & Co. raised Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research report on Friday, September 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Wednesday, October 8th. Jefferies Financial Group upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a report on Friday, December 12th. Morgan Stanley upgraded shares of Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, October 1st. Finally, Wall Street Zen downgraded shares of Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Monday, October 27th.

Institutional Investors Weigh In On Intercontinental Hotels Group

Institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Bancorp USA Inc. purchased a new stake in shares of Intercontinental Hotels Group during the 3rd quarter valued at about $42,374,000. JPMorgan Chase & Co. grew its position in Intercontinental Hotels Group by 125.7% in the second quarter. JPMorgan Chase & Co. now owns 451,823 shares of the company’s stock valued at $52,113,000 after acquiring an additional 251,647 shares in the last quarter. Millennium Management LLC raised its stake in shares of Intercontinental Hotels Group by 170.5% during the first quarter. Millennium Management LLC now owns 305,177 shares of the company’s stock valued at $33,444,000 after purchasing an additional 192,342 shares during the period. Lazard Asset Management LLC lifted its position in shares of Intercontinental Hotels Group by 98.4% during the second quarter. Lazard Asset Management LLC now owns 355,863 shares of the company’s stock worth $41,044,000 after purchasing an additional 176,502 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Intercontinental Hotels Group by 369.2% in the second quarter. Marshall Wace LLP now owns 172,622 shares of the company’s stock valued at $19,910,000 after purchasing an additional 135,829 shares during the period. Hedge funds and other institutional investors own 15.09% of the company’s stock.

Intercontinental Hotels Group Price Performance

Shares of NYSE IHG opened at $141.80 on Friday. The firm has a fifty day moving average of $132.50 and a 200-day moving average of $124.03. Intercontinental Hotels Group has a 52-week low of $94.78 and a 52-week high of $144.96.

About Intercontinental Hotels Group

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.